Derin Clark

Derin Clark

Online Reporter
Published: 21/06/2019

With inflation falling to 2.00% earlier this week, it meant good news for savers as more accounts are now offering rates that can match or beat inflation. All the top rates in our fixed rate bonds chart offer rates above inflation, while the best rates in the notice account and easy access savings charts are still below inflation, however they remain highly competitive this week.

The best fixed rate bonds savings rates

Provider

Account

Term

Rate AER

Secure Trust Bank

7 Year Fixed Rate Bond

15.07.26

2.76%

Gatehouse Bank

Fixed Term Deposit

Five years

2.75% expected profit rate

Gatehouse Bank

Fixed Term Deposit

Three years

2.55% expected profit rate

Al Rayan Bank

Fixed Term Deposit

24 months

2.42% expected profit rate

Al Rayan Bank

Fixed Term Deposit

18 months

2.32% expected profit rate

The best rate being offered in the fixed rate bond chart this week is 2.76% AER from Secure Trust Bank on its 7 Year Fixed Rate Bond. This seven-year bond requires a minimum deposit of £1,000 to open and has a term until 15 July 2026. It allows further additions for 30 days from account opening; however withdrawals are not allowed. It must be opened online but can then be managed by phone as well. This bond is also the best rate available to those who want interest paid monthly, with a version of this account that pays interest monthly at a slightly reduced rate of 2.73% AER.

The provider topping the five-year fixed rate bond chart this week is Gatehouse Bank, which pays an expected profit rate of 2.75% on its Fixed Term Deposit. This five-year bond requires a minimum of £1,000 as an opening deposit and does not allow further additions or withdrawals. It can only be opened and managed online. Gatehouse Bank was also topping the three-year fixed rate bond chart with a three-year bond version of this account paying an expected profit rate of 2.55% AER.

Those looking for a shorter-term fixed rate bond, the top rate available in the one-year fixed rate bond chart is from Al Rayan Bank, which offers an expected profit rate of 2.32% on its Fixed Term Deposit. Savers will need a minimum deposit of £1,000 to open this 18-month bond, which pays expected profit quarterly. Once open, further additions and withdrawals are not allowed. It can be both opened and managed online, in-branch, by post, phone and via its mobile app.

The best easy access savings rates

Provider

Account

Term

Rate AER

Cynergy Bank

Online Easy Access Account – Issue 23

none

1.50%

Marcus by Goldman Sachs®

Online Savings Account

none

1.50%

Virgin Money

Double Take E-Saver Issue 10

none

1.50%

Virgin Money

Man Utd Double Take E-Saver Issue 5

none

1.50%

Post Office Money®

Online Saver Issue 38

none

1.45%

Once again three providers are offering the top rate of 1.50% AER in the easy access savings chart this week. Cynergy Bank is offering this rate on its Online Easy Access Account – Issue 23, which includes a 0.50% bonus for 12 months. This account requires a minimum opening deposit of just £1 and once open it allows further additions and withdrawals, which are made via a nominated account. It can only be opened and managed online.

Marcus by Goldman Sachs® remains in the easy access savings chart with its Online Savings Account which pays 1.50% AER, which includes a 0.15% bonus for 12 months. This account does not require a minimum deposit to open, although savers should be aware that it pays interest monthly at a slightly reduced rate of 1.49% gross. This account allows further additions via a nominated account and withdrawals. It can only be opened online and then managed by phone as well. To open this account, a UK mobile number is needed.

Virgin Money offers 1.50% AER on two accounts – Double Take E-Saver Issue 10 and Man Utd Double Take E-Saver Issue 5. These accounts require a minimum opening deposit of £1 and allow further additions, although withdrawals are restricted to two per calendar year including closure. The accounts can only be opened and managed online. There are also versions of both accounts that pay interest monthly at a slightly reduced rate of 1.49%. The Man Utd Double Take E-Saver Issue 5 also comes with the incentive of 10 entries into the prize draw for every month the account is open and one extra entry for every £50 held in the account, with the ability to win matchday tickets, signed shirts and hospitality tickets.

The best notice accounts rates

Provider

Account

Notice

Rate AER

Secure Trust bank

90 Day Notice Account

90 days

1.92%

Hampshire Trust Bank

120 Day Notice (Issue 3)

120 days

1.90%

Secure Trust Bank

60 Day Notice Account

60 days

1.70%

Secure Trust Bank

30 Day Notice Account

30 days

1.50%

Topping the notice accounts savings chart this week is Secure Trust Bank offering 1.92% AER on its 90 Day Notice Account. This account, which pays interest quarterly, requires a minimum opening deposit of £1,000. It allows further additions, while withdrawals are restricted to four interest withdrawals per annum without penalty and three capital withdrawals per annum on 90 days’ notice. The account must be opened online but can then be managed by phone as well.

Hampshire Trust Bank offers 1.20% AER on its 120 Day Notice (Issue 3), which requires a minimum opening deposit of £1,000. This account allows further additions and withdrawals are permitted via a nominated account subject to 120 days’ notice. The account can be opened online or by post, then managed both these ways as well as by phone.

For savers looking for a short-term notice account, the top rate in the 30-day notice account chart is 1.50% being offered by Secure Trust Bank on its 30 Day Notice Account. A minimum opening deposit of £1,000 is needed to open this account. It allows further additions and four interest withdrawals are permitted per annum without penalty, while three capital withdrawals are allowed per annum on 30 days’ notice. The account must be opened online but can then be managed by phone as well.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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